Global fishmeal production has increased by nearly 23% in the first nine months of 2024 compared to the same period last year, largely due to a strong anchovy season in Peru. The country, which typically accounts for 20% of global fishmeal production, has significantly contributed to the rise, fulfilling nearly 20% of its 2.51 million-metric tonne quota in the North-Centre region as of November 1st.
Despite the overall increase in fishmeal production, fish oil output saw a modest 1% year-on-year rise, with gains from Peru nearly balancing declines from other regions – Chile, Denmark / Norway, Iceland / North Atlantic, USA, African countries, Spain.
China’s production
In contrast, China’s fishmeal production remains subdued, primarily due to reduced wild fish captures. The country’s cumulative production is projected to fall below 2023 levels, while fishmeal imports have increased as stockpiling efforts rise ahead of the low season in China’s aquaculture industry. This sector, now in its off-season, is expected to reduce aquafeed production for 2024, with a rebound anticipated by April 2025.
The pig farming sector in China, however, is experiencing higher demand, with fishmeal consumption for commercial piglet feed increasing as farmers prepare for peak demand in the coming months.
